MANAGEMENT

Detailed explanation-1: -The NFL’s salary cap will continue to climb in 2023. NFL Network Insiders Ian Rapoport and Tom Pelissero reported that the league informed teams Monday that the 2023 salary cap would be a record $224.8 million per club, according to sources informed of the situation.

Detailed explanation-2: -an upper limit on the amount that employees in a particular company or industry can be paid: The players’ union is opposed to a salary cap.

Detailed explanation-3: -Hard salary caps forbid teams from going above the salary cap. Soft salary caps allow teams to go above the salary cap, but will subject such teams to reduced privileges in free agency. Teams that go above the luxury tax cap are subject to the luxury tax (a tax on every dollar spent over the luxury tax cap).

Detailed explanation-4: -The salary cap increased for the first time under that CBA this season, up $1 million to $82.5 million. The flat cap was necessary because the players owed an estimated $1.5 billion in debt to the owners because of the teams’ COVID-19 pandemic revenue losses.